Olam Agri
Press Release 29 June 2022

Subscribe

Subscribe

Olam Agri secures inaugural AED 2,740 million medium term loan facility

Singapore

Olam Agri, the food, feed and fibre operating group of Olam Group Limited (“Olam Group”), announced today that it has secured a financing facility (“the Facility”) from banks in the United Arab Emirates (“UAE”) aggregating AED 2,740 million (approximately US$745 million).   

N Muthukumar

Olam Agri’s successful inaugural AED term facility builds upon its increasing activity in the Gulf Cooperation Council region, and further diversifies our funding mix.

N Muthukumar
-
Group CFO of Olam Group and CEO of Operations at Olam Agri


The Facility has Olam Agri subsidiaries Olam Global Agri Pte. Ltd. and Olam Global Agri Treasury Pte. Ltd. as co-borrowers with a tenor of two and a half years. The Facility is guaranteed by Olam Group. Proceeds from the Facility will be applied towards refinancing of Olam Agri’s existing loans for general corporate purposes. 

Abu Dhabi Commercial Bank, First Abu Dhabi Bank (“FAB”) and Standard Chartered Bank are the Senior Mandated Lead Arrangers for the Facility, while Emirates NBD Bank is the Mandated Lead Arranger and FAB the Facility Agent. 
 

Press Release
Download

Also in the News

Olam Agri Lays Foundation for New Cotton Gin in Kong, Côte d’Ivoire

Olam Agri Lays Foundation for New Cotton Gin in Kong, Côte d’Ivoire

Olam Agri, a leading agribusiness transforming food, feed and fibre to cultivate a more sustainable future, has laid the foundation for the construction of its third cotton gin in Côte d’Ivoire. The groundbreaking ceremony took place on 12 May 2023 at the site in Kong and marks a significant milestone for the company’s commitment to sustainable cotton production in the country.
Read More
Providing Access to Clean Drinking Water in Satikran, Côte d'Ivoire

Providing Access to Clean Drinking Water in Satikran, Côte d'Ivoire

In the small village of Satikran, located about 30 km from Abengourou in the sub-prefecture of Aniassué, life is changing for the better. Olam Agri's rubber business in Côte d'Ivoire – Société Agro-Industrielle de la Comoé (SAIC) – has donated a solar water pump to the village, bringing access to clean drinking water to more than 12,000 inhabitants. The donation is part of the Nassey program, which means "Thank You" in the local dialect and aims to show our appreciation and commitment to social development for rural communities. The solar-powered water pump will provide the community with safe and clean drinking water, something they have long struggled to access. The donation, which was made in time for World Water Day, had Augustin Apetey, Deputy Managing Director of SAIC, expressing his joy at the pump’s impact on the community saying, "What a relief for our mothers, sisters, and daughters! So many lives to change!"
Read More
Building a Business that Conserves Forests, One Step At a Time

Building a Business that Conserves Forests, One Step At a Time

“I have worked in the Congo basin for years, but nothing could have prepared me for the moment when I was just steps away from Buka, who belongs to one of the four groups of habituated silverback gorillas living in the vicinity of our forest concessions in the Congo Basin,” says Vincent Istace, Head of Corporate Responsibility & Sustainability at Congolaise Industrielle des Bois (CIB), an Olam Agri subsidiary.
Read More
All News